Commerce Bancshares (NASDAQ:CBSH) Downgraded to "Sell" Rating by StockNews.com

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Thursday.

Several other equities analysts also recently commented on CBSH. Piper Sandler raised their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Wells Fargo & Company reduced their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $63.20.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH traded up $1.36 during midday trading on Thursday, hitting $60.09. 512,957 shares of the stock were exchanged, compared to its average volume of 588,659. The company has a market capitalization of $8.06 billion, a PE ratio of 14.99, a P/E/G ratio of 2.13 and a beta of 0.71. Commerce Bancshares has a 52-week low of $49.97 and a 52-week high of $72.75. The business's fifty day simple moving average is $61.25 and its two-hundred day simple moving average is $64.16.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, equities analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current year.

Insider Transactions at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now owns 22,175 shares of the company's stock, valued at $1,513,222. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,719 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total value of $115,688.70. Following the sale, the senior vice president now directly owns 18,688 shares in the company, valued at $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,434 shares of company stock valued at $5,248,272. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CBSH. Atria Wealth Solutions Inc. grew its holdings in shares of Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock worth $689,000 after purchasing an additional 166 shares during the last quarter. Canopy Partners LLC increased its holdings in shares of Commerce Bancshares by 4.9% during the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock worth $225,000 after buying an additional 168 shares in the last quarter. Apriem Advisors raised its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock valued at $238,000 after acquiring an additional 182 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock worth $244,000 after acquiring an additional 183 shares in the last quarter. Finally, Verde Capital Management grew its position in Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock worth $223,000 after acquiring an additional 183 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.